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Permata sharia unit posts profit
JAKARTA: Bank Permata's syariah banking unit posted a more than four-fold increase in net profits during the first half of the year on higher proceeds from investment
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AKARTA: Bank Permata's syariah banking unit posted a more than four-fold increase in net profits during the first half of the year on higher proceeds from investment.
The unit on Monday announced it had recorded Rp 20.9 billion (US$2.27 million) during the first six months of the year, compared to a loss of Rp 6.1 billion in the same period last year.
Its operational income soared by 356 percent to Rp 37.6 billion from Rp 8.2 billion, while asset value grew by 265 percent to Rp 1.2 trillion from Rp 330.2 billion.
The unit's capital adequacy ratio (CAR) reached 17.9 percent, far more than the required 8 percent set by the central bank.
In 2002, five ailing banks merged to form Bank Permata. Standard Chartered Bank and PT Astra International both took over the bank in 2004. -- JP
